Finance
Ageas Says It Won’t Make Third Offer for Direct Line Insurance
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Ageas said it will halt its pursuit of UK insurer Direct Line Insurance Group Plc after two takeover proposals were rejected this year.
The Belgian insurer had put forth an offer valuing Direct Line at about £3.2 billion ($4.1 billion) earlier this month, a bump from a previous bid. Ageas said Friday that it continues to believe in “the underlying attractiveness and future opportunities” of the UK personal lines sector.